According to The Australian Financial Review, the International Convention Centre at Sydney's Darling Harbour has cost $1.5 billion to build, resulting in 40 per cent more exhibition space than the previous convention centre.
The new, larger facility – which opened in December – is also part of a $3.5 billion upgrade of the Darling Harbour precinct, which promotes Sydney in the burgeoning travel market that combines business, entertainment, tourism and culture.
It is a heady combination, according to ICC Sydney chief executive Geoff Donaghy, and one which has put the ICC and Sydney's Darling Harbour precinct in the top echelon of business events and conference-based travel.
"The ICC is a unique venue which puts Sydney in the running for the biggest international conferences and exhibitions," says Donaghy. "The only competition in terms of venue and location is probably Hong Kong."
Donaghy says the ICC has more than 700 forward bookings already including local corporate events, national business events and international conferences and conventions.
"In the three months since we opened, we've had 200 events and 350,000 delegates and attendees."